Aura Systems, Inc. Reports Earnings Results for the Second Quarter Ended August 31, 2020
October 23, 2020 at 03:35 pm IST
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Aura Systems, Inc. announced earnings results for the second quarter ended August 31, 2020. For the second quarter, the company announced sales was USD 5,000 compared to USD 348,075 a year ago. Operating loss was USD 493,863 compared to operating Income of USD 73,449 a year ago. Net income was USD 2.723 million compared to net loss of USD 211,339 a year ago. Basic earnings per share from continuing operations was USD 0.05. Diluted earnings per share from continuing operations was USD 0.04. For the half year, sales was USD 53,633 compared to USD 348,075 a year ago. Operating loss was USD 863,176 compared to USD 284,856 a year ago. Net income was USD 2.117 million compared to net loss of USD 886,659 a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.02 a year ago.
Aura Systems, Inc. (Aura) designs, assembles, tests, and sells its Axial Flux Induction Motor solution and mobile power known as the AuraGen for commercial and industrial applications and the VIPER for military applications. Its business model consists of components such as sales and marketing, design and engineering. Aura's sales and marketing approaches are composed of direct sales in North America and the use of agents and distributors in other areas. In North America, its primary focus is on mobile exportable power applications, electric vehicles applications, United States Military applications and industrial/commercial motor as well as mobile power applications. Its business model is focused on the design of new products and engineering support for sales activities. The engineering support consists of the introduction of new optimized power levels for electric motors and new features for its AuraGen/VIPER solution, such as torque solutions and different input and output voltages.
AURA SYSTEMS, INC. 
